Asia-Pacific: Market for Base Metal Flexible Tubing, Iron Or Steel 2024

Market Size for Base Metal Flexible Tubing, Iron Or Steel in Asia-Pacific

The Asia-Pacific base metal flexible tubing market rose markedly to $X in 2021, surging by 6.6% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Base Metal Flexible Tubing, Iron Or Steel in Asia-Pacific

In value terms, base metal flexible tubing production rose markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 14% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Base Metal Flexible Tubing, Iron Or Steel

Exports in Asia-Pacific

In 2021, shipments abroad of base metal flexible tubing, iron or steel increased by 14% to X tons, rising for the fifth consecutive year after two years of decline. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.6% against 2016 indices. The growth pace was the most rapid in 2020 with an increase of 19% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, base metal flexible tubing exports skyrocketed to $X in 2021. In general, exports showed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporting country with an export of around X tons, which accounted for 76% of total exports. It was distantly followed by South Korea (X tons), committing a 13% share of total exports. Taiwan (Chinese) (X tons), Thailand (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to base metal flexible tubing exports from China stood at +5.8%. At the same time, Taiwan (Chinese) (+27.9%) and South Korea (+17.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +27.9% from 2012-2021. By contrast, Thailand (-7.7%) and India (-9.7%) illustrated a downward trend over the same period. South Korea (+7.8 p.p.), Taiwan (Chinese) (+3.6 p.p.) and China (+2.3 p.p.) significantly strengthened its position in terms of the total exports, while India and Thailand saw its share reduced by -4.6% and -5.1% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest base metal flexible tubing supplier in Asia-Pacific, comprising 55% of total exports. The second position in the ranking was held by South Korea ($X), with a 21% share of total exports. It was followed by Taiwan (Chinese), with a 5.4% share.

In China, base metal flexible tubing exports increased at an average annual rate of +9.2% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+16.2% per year) and Taiwan (Chinese) (+32.6% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, with an increase of 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2013 when the export price increased by 15%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was South Korea ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+6.8%), while the other leaders experienced more modest paces of growth.

Imports of Base Metal Flexible Tubing, Iron Or Steel

Imports in Asia-Pacific

In 2021, overseas purchases of base metal flexible tubing, iron or steel increased by 18% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 19% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, base metal flexible tubing imports soared to $X in 2021. Total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -26.0% against 2017 indices. The pace of growth was the most pronounced in 2014 when imports increased by 41% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the eleven major importers of base metal flexible tubing, iron or steel, namely Japan, Thailand, Pakistan, Taiwan (Chinese), Indonesia, the Philippines, Hong Kong SAR, Malaysia, South Korea, Singapore and India, represented more than two-thirds of total import. China (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Pakistan (with a CAGR of +11.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal flexible tubing importing markets in Asia-Pacific were Japan ($X), Taiwan (Chinese) ($X) and China ($X), with a combined 41% share of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +9.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 2.1% against the previous year. Import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, base metal flexible tubing import price decreased by -23.3% against 2019 indices. The growth pace was the most rapid in 2017 when the import price increased by 25% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+15.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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